Patagonia grows portfolio of REE and lithium-focused territory with exploration grants

Patagonia Lithium Ltd (ASX:PL3) has widened its footprint in Argentina, gaining an additional 15 exploration concessions – which it believes are highly prospective for rare earth elements and lithium – bringing the company’s total granted concessions in the country to 18.

The 15 new applications are for exploration within the Minas Gerais state, and will run for three years.

Within this territory, Patagonia has identified three key areas with high priority targets for REEs in ionic clays, or lithium pegmatites.

Executive chairman Phillip Thomas said Patagonia’s exploration team was already active on the ground, rolling out rockchip, soil and stream sampling to test the prospectivity of the land.

“We now have a major component of our exploration concessions granted and the team is already in trucks mapping and sampling along the priority targets from the substantial geophysics we have conducted,” he said.

“This campaign is earmarked to be conducted quickly so we can shore up our drill targets
and additionally high intensity sampling.”

Patagonia Lithium has been trading at 10 cents.